More than 70% of advisors are over 50, while only one in eight firms is prepared for succession, according to Wolters Kluwer’s Italian Advisory Barometer

• More than 70% of advisors are over 50; only 4% are under 30.
• Only 13% consider their firm fully prepared for succession; 58% are in a potentially vulnerable position.
• 71% have not updated their fees in the last 12 months, while 45% cannot pass on rising costs to their clients.
• 58% operate with between 1 and 3 permanent staff members; more than 84% have a maximum of 6 people.
• 62% face significant difficulty finding qualified professionals.

MILAN: More than 70% of professionals in Italy’s tax and accounting sector are over 50, while only 13% of firms consider themselves prepared to manage succession, according to the first Advisory Barometer from Wolters Kluwer Tax & Accounting Italy, a leading provider of software solutions, information, and services for professional firms and businesses.

Based on a survey of 440 Italian professional firms, the Barometer analyses the sector’s needs, challenges, and prospects. It portrays a profession deeply rooted in the Italian economic fabric - with more than half of firms in business for over 30 years and 88% retaining nearly their entire client portfolio - but increasingly under pressure from eroded profitability, difficulty competing as an employer, and a lack of succession planning.

“Italian accountants have built their success on a deep relationship of trust with their clients, but today the industry is facing unprecedented pressures. A gradual generational shift, growing complexity, and persistent pressure on margins are pushing firms to rethink how they operate and plan for the future. Generational transition is no longer just a long-term consideration; it has become a crucial factor for business continuity,” said Sergio Liscia, Vice President & General Manager of Wolters Kluwer Tax & Accounting Europe Region South. “Technology can play a key role by automating compliance activities, improving productivity, helping firms attract a new generation of talent, and creating more capacity to focus on higher-value advisory services.”

Inverted Age Pyramid: The Generational Challenge Facing the Sector

The Barometer’s demographic data is compelling. The largest age group among Italian financial advisors is those aged 51 to 60 (38%), followed by those over 60 (33%). Overall, more than seven out of ten professionals are over 50. At the other end of the spectrum, those under 30 account for just 4% of the total, and those between 30 and 40 account for only 7%.

A third (31%) of firms acknowledge a specific risk of a lack of generational succession, and 26% admit they have not yet explicitly addressed the issue. Only 13% consider themselves fully prepared. Overall, 58% of the sector is in a position of potential vulnerability when it comes to succession. The problem is particularly acute in smaller firms. Among those with 1 to 3 associates (58% of the total), 36% point to a clear succession risk, while 33% admit they have made no plans to address it.

The Great Challenge of Attracting Talent

The difficulty in finding and retaining qualified professionals exacerbates the succession crisis: 62% of firms rate the difficulty of recruiting talent as high, with tax professionals (39%) and accountants (38%) being the scarcest profiles on the market.

Among firms experiencing recruitment difficulties, 35% cite uncompetitive compensation and 27% point to limited attractiveness compared with other career options. When employees leave, the main reasons are a change in the type of work (32%) and heavy workloads (24%).

Internal training, an essential tool for preparing the next generation of advisors, reflects a similar situation: 57% of professional firms operate without a planned and ongoing training program.

Micro-structure and Profitability Under Pressure

Two structural factors directly contribute to this succession crisis: the size of professional firms and the pressure on their profitability, which limit their ability to offer attractive working conditions and invest in the future.

The typical Italian professional firm is a microenterprise: 58% operate with between 1 and 3 permanent associates, and more than 84% have a maximum of 6 people. This structure can sometimes constrain growth and investment capacity. Smaller firms often have fewer resources to adopt new technologies, attract and develop talent, or build succession plans for the future.

The economic situation exacerbates this limitation. In fact, 71% of professional firms have not updated their rates in the last twelve months. Almost half (45%) cite the inability to pass on rising costs to clients as their main economic challenge, followed by late payments (37%) and the low profitability of fixed-fee services (27%). As a result, 34% of professional firms reported a decline in revenue over the past year, with smaller firms experiencing the sharpest drops.

Added to this economic pressure is the operational burden of compliance: more than 70% of working time continues to be devoted to tax, accounting, and administrative obligations. Strategic consultancy is a growing area, with 32% of firms reporting increased revenue from these services, yet 55% still devote less than 25% of their time to advisory work.

Note to Editors

About the 2026 Advisory Barometer

The “2026 Advisory Barometer” (downloadable HERE), in its first edition, was compiled through direct interviews with 440 Italian professional firms in June 2026. Dedicated exclusively to the Italian market, it complements the analogous study conducted in Spain for the past six years and the international “Future Ready Accountant” survey, a data-driven analysis of the global tax and accounting profession based on insights from over 2,700 professionals worldwide.

Percentages in this press release have been rounded to the nearest whole number for readability. Figures in the full study and accompanying charts are presented using their exact decimal values.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information solutions, software and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

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Fonte: Business Wire